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Published Date: 2016-08-05Number of Pages: 115

Armored Vehicle Market (Technology - Active Protection System, Inter Operable Communication, Modular Ballistic Armor, Electric Armor, Situational Awareness System, Active Mine Protection, Vehicle Information Integration; Vehicle Type - Light Protected Vehicles, Infantry Fighting Vehicles, Armored Personnel Carriers, Armored Amphibious Vehicles, Main Battle Tanks, Mine Resistant Ambush Protected Vehicles; Application - Military, Law Enforcement, Commercial) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

The defense sector in most countries is the most prominent consumer of different kinds of armored vehicles. An increase in defense funds by emerging countries reflects positively on the growth of the global armored vehicles market. The market is driven primarily by the rising military expenditures across emerging and developed economies and is on the verge of a technological transformation. Integration of compact, lightweight technologically advanced electronic and photonic components for enhancing the operational efficiency of armored vehicles is gaining increased popularity.

Moreover, law enforcement agencies across the globe are also leading to an increased demand for armored vehicles with the aim of safeguarding human lives, undertaking critical missions, and securing VIPs. Transparency Market Research estimates that the global armored vehicles market will expand at a healthy CAGR of 5.2% over the period between 2015 and 2023. The market held an opportunity of US$22.73 bn in 2014 and is expected to rise to US$35.49 bn in 2023.

Active Mine Protection to Remain Dominant but Inter-operable Communication to Give Most Promising Returns

In terms of technology used across armored vehicles, the segment of active mine protection held the largest share of over 24% in the global armored vehicle market in 2014. The segment is expected to hold an equivalent share in the overall market by 2024 as well. However, the demand for inter-operable communication technology is expected to expand at the fastest CAGR of 5.5% over the period between 2015 and 2023.

Development across the commercial-off-the-shelf and embedded systems sectors, the inter-operable communication technology has observed significant development in the past few years and is expected to gain an increased level of adoption in future armored vehicles.

 

armored-vehicle-market

 

Fuelled by Swelling Military Investments, Demand for Armored Vehicles in Asia Pacific to Surge

Accounting for a share of over 40%, North America held the leading position in the global armored vehicle market in 2014. Vast defense funds, rising investment in the R&D of modern military vehicles, and the high concentration of some of the world’s most reputable and largest defense contractors will help the region retain its dominance in the next few years as well.

Europe held the second-largest position in the market in 2014. Owing to reductions in military budgets in most European countries in the past few years, the market for armored vehicles in the region is expected to witness expansion at a sluggish pace, bringing about a nominal reduction in its share in the global market in 2023.

Asia Pacific acquired ranked third in the global armored vehicle market in 2014. The market for armored vehicles in Asia Pacific is expected to expand at the fastest pace of 5.8% CAGR from 2015 to 2023 among key regional markets. Rising investments in the fields of development and procurement of technologically advanced armored vehicles across several countries in the region will emerge as a highly promising growth opportunity for the global armored vehicle market in the next few years. China accounted for over half the Asia Pacific armored vehicle market in 2014 and is expected to remain the dominant market for armored vehicle in the next few years as well.

Some of the key vendors operating in the market are The Raytheon Company, INKAS Armored Vehicle Manufacturing, Krauss-Maffei Wegmann GmbH & Co. KG, STREIT Group, Oshkosh Corporation, Elbit Systems Ltd., BAE Systems plc, Lockheed Martin Corporation, Rheinmetall Defence, General Dynamics Corporation, and International Armored Group.

Chapter 1 Preface
1.1 Research description
1.2 Research scope
1.3 Research methodology

Chapter 2 Executive Summary

Chapter 3 Market Overview
3.1 Introduction
3.2 Key Trends Analysis
3.3 Market Dynamics
     3.3.1 Market Drivers
            3.3.1.1 Military modernization initiatives in Asia Pacific (APAC) and Rest of the World (RoW) to boost the market growth 
            3.3.1.2 Enhanced SWaP (Size, Weight, and Power) specificationspose to attract  investments and drive innovation
            3.3.1.3 Surging demand for armored vehicles from security conscious civilians
     3.3.2 Market Restraint
            3.3.2.1 Lack of standardized regulatory norms in Asia Pacific and Rest of World
            3.3.2.2 Maintenance of balance between cost and quality of the vehicles 
     3.3.3 Market Opportunities
            3.3.3.1 Increasing military expenses by the nations in APAC and RoW
            3.3.3.2 Adoption of advanced technologies in enhancing the overall vehicle type and performance
3.4 Market attractiveness by Type, 2014

Chapter 4 Global Armored Vehicle Market Analysis and Forecast, by Technology, 2015 – 2023 (USD Billion)
4.1 Overview
4.2 Active Protection System
4.3 Inter Operable Communication
4.4 Modular Ballistic Armor
4.5 Electric Armor
4.6 Situational Awareness Systems
4.7 Active Mine Protection
4.8 Vehicle Information Integration

Chapter 5 Global Armored Vehicle Market Analysis and Forecast, by Type, 2015 – 2023 (USD Billion)
5.1 Overview 
5.2 Light Protected Vehicles
5.3 Infantry fighting Vehicles
5.4 Armored Personnel Carriers
5.5 Armored Amphibious Vehicles
5.6 Main Battle Tanks
5.7 Mines Resistant Ambush Protected (MRAP) Vehicles
5.8 Others

Chapter 6 Global Armored Vehicle Market Analysis and Forecast, by Application, 2015 – 2023 (USD Billion)
6.1 Overview
6.2 Military
6.3 Law Enforcement
6.4 Commercial

Chapter 7 Global Armored Vehicle Market Analysis and Forecast, by Geography, 2015 – 2023 (USD Billion)
7.1 Overview
7.2 North America Armored Vehicle Market, 2014 – 2023: Revenue Forecast
     7.2.1 North America Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Type
     7.2.2 North America Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Technology
     7.2.3 North America Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Application
     7.2.4 North America Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Country
            7.2.4.1 U.S. Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.2.4.2 Canada Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.2.4.3 Mexico Armored Vehicle Market, 2014 – 2023, Revenue Forecast
7.3 Europe Armored Vehicle Market, 2014 – 2023: Revenue Forecast
     7.3.1 Europe Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Type
     7.3.2 Europe Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Technology
     7.3.3 Europe Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By
     7.3.4 Europe Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Country
            7.3.4.1 Russia Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.3.4.2 U.K. Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.3.4.3 Germany Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.3.4.4 France Armored Vehicle Market, 2014 – 2023, Revenue Forecast 
            7.3.4.5 Italy Armored Vehicle Market, 2014 – 2023, Revenue Forecast 
            7.3.4.6 Rest of Europe Armored Vehicle Market, 2014 – 2023, Revenue Forecast
7.4 Asia Pacific Armored Vehicle Market, 2014 – 2023: Revenue Forecast
     7.4.1 Asia Pacific Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Type
     7.4.2 Asia Pacific Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Technology
     7.4.3 Asia Pacific Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Application
     7.4.4 Asia Pacific Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Country
            7.4.4.1 China Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.4.4.2 India Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.4.4.3 Japan Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.4.3.4 Rest of APAC Armored Vehicle Market, 2014 – 2023, Revenue Forecast
7.5 Rest of the World Armored Vehicle Market, 2014 – 2023: Revenue Forecast
     7.5.1 Rest of the World Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Type
     7.5.2 Rest of the World Armored Vehicle Market, 2014 – 2023: Revenue Forecast, By Technology
     7.5.3 Rest of the World Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Application
     7.5.4 Rest of the World Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Sub Region
     7.5.5 Rest of the World Armored Vehicle Market, 2014 – 2023, Revenue Forecast, By Country
            7.5.5.1 Saudi Arabia Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.5.5.2 UAE Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.5.5.3 Israel Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.5.5.4 South Africa Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.5.5.5 Rest of MEA Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.5.5.6 Brazil Armored Vehicle Market, 2014 – 2023, Revenue Forecast
            7.5.5.7 Rest of South America Armored Vehicle Market, 2014 – 2023, Revenue Forecast

Chapter 8 Company Profiles
8.1 Oshkosh Corporation
     8.1.1 Company Overview
     8.1.2 Business Segments 
     8.1.3 Regional Overview
     8.1.4 Key Developments
     8.1.5 Financial Overview
     8.1.6 Historical Roadmap
     8.1.7 Business Strategies
8.2 Rheinmetall Defence
     8.2.1 Company Overview
     8.2.2 Business Segments 
     8.2.3 Regional Overview
     8.2.4 Key Developments
     8.2.5 Financial Overview
     8.2.6 Historical Roadmap
     8.2.7 Business Strategies
8.3 BAE Systems plc
     8.3.1 Company Overview
     8.3.2 Business Segments 
     8.3.3 Regional Overview
     8.3.4 Key Developments
     8.3.5 Financial Overview
     8.3.6 Historical Roadmap
     8.3.7 Business Strategies
8.4 General Dynamics Corporation
     8.4.1 Company Overview
     8.4.2 Business Segments 
     8.4.3 Regional Overview
     8.4.4 Key Developments
     8.4.5 Financial Overview
     8.4.6 Historical Roadmap
     8.4.7 Business Strategies
8.5 Lockheed Martin Corporation
     8.5.1 Company Overview
     8.5.2 Business Segments 
     8.5.3 Regional Overview
     8.5.4 Key Developments
     8.5.5 Financial Overview
     8.5.6 Historical Roadmap
     8.5.7 Business Strategies
8.6 Elbit Systems Ltd.
     8.6.1 Company Overview
     8.6.2 Business Segments 
     8.6.3 Regional Overview
     8.6.4 Key Developments
     8.6.5 Financial Overview
     8.6.6 Historical Roadmap
     8.6.7 Business Strategies
8.7 Krauss-Maffei Wegmann GmbH & Co. KG
     8.7.1 Company Overview
     8.7.2 Business Segments 
     8.7.3 Regional Overview
     8.7.4 Key Developments
     8.7.5 Financial Overview
     8.7.6 Historical Roadmap
     8.7.7 Business Strategies
8.8 INKAS Armored Vehicle Manufacturing 
     8.8.1 Company Overview
     8.8.2 Business Segments 
     8.8.3 Regional Overview
     8.8.4 Key Developments
     8.8.5 Financial Overview
     8.8.6 Historical Roadmap
     8.8.7 Business Strategies
8.9 International Armored Group
     8.9.1 Company Overview
     8.9.2 Business Segments 
     8.9.3 Regional Overview
     8.9.4 Key Developments
     8.9.5 Financial Overview
     8.9.6 Historical Roadmap
     8.9.7 Business Strategies
8.10 STREIT Group
     8.10.1 Company Overview
     8.10.2 Business Segments 
     8.10.3 Regional Overview
     8.10.4 Key Developments
     8.10.5 Financial Overview
     8.10.6 Historical Roadmap
     8.10.7 Business Strategies

List of Figures

FIG. 1 Segmentation of Global Armored Vehicle Market
FIG. 2 World Military Expenditure By 15 Countries With The Highest Expenditure (%), 2014
FIG. 3 Market Attractiveness, By Type, 2014
FIG. 4 Global Armored Vehicle Market, By Technology, Revenue Share 2014 (%)
FIG. 5 Global Armored Vehicle Market, By Technology, Revenue Share 2023 (%)
FIG. 6 Global Active Protection Systems Market, 2014 – 2023 (USD Billion)
FIG. 7 Global Inter Operable Communication Market, 2014 – 2023 (USD Billion)
FIG. 8 Global Modular Ballistic Armor Market, 2014 – 2023 (USD Billion)
FIG. 9 Global Electric Armor Market, 2014 – 2023 (USD Billion)
FIG. 10 Global Situational Awareness Systems Market, 2014 – 2023 (USD Billion)
FIG. 11 Global Active Mine Protection Market, 2014 – 2023 (USD Billion)
FIG. 12 Global Vehicle Information Integration Market, 2014 – 2023 (USD Billion)
FIG. 13 Global Armored Vehicle Market,By Type,Revenue Share 2014 (%)
FIG. 14 Global Armored Vehicle Market, By Type,Revenue Share 2023 (%)
FIG. 15 Global Light Protected Vehilces Market, 2014 – 2023 (USD Billion)
FIG. 16 Global Infantry Fighting Vehicles Market, 2014 – 2023 (USD Billion)
FIG. 17 Global Armored Personnel Carriers Market, 2014 – 2023 (USD Billion)
FIG. 18 Global Armored Amphibious Vehicles Market, 2014 – 2023 (USD Billion)
FIG. 19 Global Main Battle Tanks Market, 2014 – 2023 (USD Billion)
FIG. 20 Global Mine Resistant Ambush Protected (MRAP) Vehicles Market, 2014 – 2023 (USD Billion)
FIG. 21 Global Other Vehicles Market, 2014 – 2023 (USD Billion)
FIG. 22 Global Armored Vehicle Market, By Application, Revenue Share 2014 (%)
FIG. 23 Global Armored Vehicle Market, By Application, Revenue Share 2023 (%)
FIG. 24 Global Military Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 25 Global Law Enforcement Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 26 Global Commercial Armored Vehicles Market, 2014 – 2023 (USD Billion)
FIG. 27 Global Armored Vehicles Market,By Geography, Revenue Share 2014(%)
FIG. 28 Global Armored Vehicles Market, By Geography, Revenue Share 2023 (%)
FIG. 29 North America Armored Vehicles Market, 2014 – 2023:Revenue Forecast
FIG. 30 U.S. Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 31 Canada Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 32 Mexico Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 33 Europe Armored Vehicle Market, 2014 – 2023: Revenue Forecast 
FIG. 34 RussiaArmored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 35 U.K.Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 36 GermanyArmored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 37 France Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 38 Italy Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 39 Rest of Europe Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 40 Asia Pacific Armored Vehicle Market, 2014 – 2023Revenue Forecast
FIG. 41 China Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 42 India Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 43 Japan Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 44 Rest of Asia Pacific Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 45 Rest of the World Armored Vehicle Market, 2014 – 2023Revenue Forecast
FIG. 46 Saudi Arabia Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 47 UAE Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 48 Turkey Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 49 South Africa Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 50 Rest of MEA Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 51 Brazil Armored Vehicle Market, 2014 – 2023 (USD Billion)
FIG. 52 Rest of South AmericaArmored Vehicle Market, 2014 – 2023 (USD Billion)

List of Tables

Table 1 Executive Summary
Table 2 North America Armored Vehicle Market, 2014 2023: Revenue forecast, by Type
Table 3 North America Armored Vehicle Market, 2014 –2023: Revenue forecast, By Technology
Table 4 North America Armored Vehicle Market, 2014 2023: Revenue forecast, by Application
Table 5 Europe Armored Vehicle Market, 2014 2023: Revenue forecast, by Type
Table 6 Europe Armored Vehicle Market, 2014 –2023: Revenue forecast, By Technology
Table 7 Europe Armored Vehicle Market, 2014 –2023: Revenue forecast, By Application
Table 8 Asia Pacific Armored Vehicle Market, 2014 –2023: Revenue forecast, By Type
Table 9 Asia Pacific Armored Vehicle Market, 2014 –2023: Revenue forecast, By Technology
Table 10 Asia Pacific Armored Vehicle Market, 2014 –2023: Revenue forecast, By Application
Table 11 Rest of the World (RoW) Armored Vehicle Market, 2014 –2023: Revenue forecast, By Type
Table 12 Rest of the World (RoW) Armored Vehicle Market, 2014 –2023: Revenue forecast, By Technology
Table 13 Rest of the World (RoW) Armored Vehicle Market, 2014 –2023: Revenue forecast, By Application
Table 14 Rest of the World Armored Vehicle Market, 2014 –2023: Revenue forecast, By Sub-Regions

Military vehicles require robust capabilities to overcome threats from both internal damages and external sources. The deployment of military troops in extreme environmental scenarios has led to the investments in improving the vehicle competencies in terms of technology. Various rugged systems and devices are constantly being integrated in the military vehicles worldwide specific to different regional applications. Moreover, the development of landmines and other improvised explosive devices (IEDs), which pose major challenges to military vehicles, have amplified the concerns to protect the soldiers’ lives in the battleground. These factors boost the demand for armored vehicles from the military organizations globally. Additionally, the advent of technology and improvement of multirole vehicles have also influenced the demand for armored vehicles among various law enforcement agencies worldwide. Considering the aforementioned factors, the global armored vehicles market is estimated to be growing at a significant pace.

Furthermore, the security challenges across the globe have lead to the generation of demand for armored commercial vehicles from civilians. The market for commercial armored vehicles is currently growing at a steady pace, however, it is expected to undergo a substantial boost during the forecast period and lead to the expansion of the overall armored vehicles market. This factor is estimated to develop new opportunities for the global armored vehicles manufacturers. On the contrary, the market for armored vehicles encounters major hindrances such as lack of standardized regulatory norms in Asia Pacific (APAC) and Rest of World (RoW). However, the impact of this restraint is analyzed to contract over the forecast period as the governments in different countries are gradually establishing regulations for armored vehicle manufacturing in all applications sectors namely, military, law enforcement and commercial.

In this report on the global armored vehicles, the market has been segmented based on technology, type and geography. The study highlights current market trends and provides the market size of 2014 and forecast from 2015 to 2023. The report covers the current market scenario for armored vehicle and highlights future trends that could affect the demand for the same. The global armored vehicles market is analyzed to observe a steady growth from 2015to2023 at a decent CAGR.

Based on geography, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World. On the basis of segmentation by type, the market has been categorized into light protected vehicles, infantry fighting vehicles, armored personnel carriers, main battle tanks, armored amphibious vehicles, mine resistance ambush protected (MRAP) vehicles and others. Additionally, the market has been segmented on the basis of technology which includes active protection system, inter operable communication, modular ballistic armor, electric armor, situational awareness, active mine protection and vehicle information integration. In addition to the market size of 2014, the forecasted market values from 2015 to 2023 have been provided in the report.

The report includes, analysis of macro and micro economic factors driving and restraining the growth of the global armored vehicles market. Moreover, the market attractiveness analysis provided in the report, highlights the major areas for future investments in the global armored vehicles industry. The report is intended to help armored vehicles suppliers and original equipment manufacturers in understanding the current and upcoming opportunities in the global armored vehicles market and formulating their business strategies accordingly. In addition, the report is expected to benefit the governments, military organizations and other buyer communities.

This study includes the profiles of 10 major players in the global armored vehicle market and the strategies adopted by them to sustain in the competition. The key participants in the global armored vehicles market include Oshkosh Corporation, BAE Systems plc, Rheinmetall Defence, Lockheed Martin Corporation, Elbit Systems Ltd., The Raytheon Company, Krauss-Maffei Wegmann GmbH & Co. KG, General Dynamics Corporation, INKAS Armored Vehicle Manufacturing, International Armored Group and STREIT Group among others.

Global Armored Vehicle Market, 2015 – 2023: By Technology

  • Active Protection System
  • Inter Operable Communication
  • Modular Ballistic Armor
  • Electric Armor
  • Situational Awareness System
  • Active Mine Protection
  • Vehicle Information Integration

Global Armored Vehicle Market, 2015 – 2023: By Type

  • Light Protected Vehicles
  • Infantry Fighting Vehicles
  • Armored Personnel Carriers
  • Armored Amphibious Vehicles
  • Main Battle Tanks
  • Mine Resistant Ambush Protected Vehicles
  • Others

Global Armored Vehicle Market, 2015 – 2023: By Application

  • Military
  • Law Enforcement
  • Commercial

Global Armored Vehicle Market, 2015 – 2023: By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • U.K.
    • France
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East and Africa (MEA)
      • Saudi Arabia
      • UAE
      • Israel
      • South Africa
      • Rest of MEA
    • South America
      • Brazil
      • Rest of South America


 
 
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